The truth is, it's been a tangled web for some time as far as the relationship between Apple and Google goes. Sure, Schmidt sat on the board, the companies claim to be working on new projects, and Google Maps comes preloaded onto the iPhone, but over the past year, Google's increasing move into Apple's space, and Apple's increasing desire to control every inch of that space have not been good bedfellows. It's hard to imagine that Apple could maintain a completely healthy relationship with a direct competitor in both the phone and OS space for very long, and that's to say nothing of Cupertino's latest push into online document editing and management, which couldn't have seemed very awesome to Schmidt and company. Oh, and there's that matter of the antitrust case which is currently ongoing. Still, it's a bit sad to see this power couple going their separate ways, though it does give us some hope that Google will begin a full assault with Android in earnest, because only sweet stuff could come from those efforts. If you're interested, the full PR is after the break.
Update: The FTC says it's going to continue investigating the two companies for "remaining interlocking directorates," so Apple and Google aren't totally out of the woods, but we don't think anything else major is in store here.